Overseas Property Investors Fancying Sydney
An article on the Adviser talks about a survey which says that at least 50% of property investors are looking to expand their portfolio in the year 2015. Cross-regional purchases are all set to grow this year, what with a 10% hike in survey respondents preparing to invest out of their own region. Sydney is sandwiched in the fourth spot, between San Francisco and New York, in terms of global venues sought for property investment.
Safe haven for overseas property investors
Experts feel that Sydney’s demand can be put down to the fact that Australia is being thought of as a safe haven by many overseas buyers and expats. Australia has definitely earned all the attention it is getting. It has posted really lucrative returns, both for core assets and secondary assets.
You can read the original article here.
Application fee for foreign investors
There is a possible caveat in the air: the Federal budget has talked about introducing an application fee of $5,000 for overseas investors. While the fee will be on a sliding scale, based on demand and the paying ability, it will be a prerequisite for entering the Australian property market. How the fee distinguishes between an overseas buyer and an expatriate remains to be seen. Mortgage brokers are a little panicky with the development but there is a general feeling that no one, except the most price-sensitive overseas property investors, will feel the pinch.
Sydney running towards London and Tokyo
Sydney has proved to be the golden route to investment success and with some luck, it may shoot past San Francisco and give Tokyo (ranked 2nd) and London (ranked 1st) a run for their money. Neutral gearing of the properties will be a crucial question for these investors who will want to make most of the capital growth and the rental yield scene of Sydney.